Morgan Stanley Reaffirms “Equal Weight” Rating for Soho House & Co Inc. (NYSE:SHCO)

Morgan Stanley reiterated their equal weight rating on shares of Soho House & Co Inc. (NYSE:SHCO) in a research report released on Tuesday morning, Marketbeat Ratings reports. The firm currently has a $5.50 target price on the stock.

SHCO has been the subject of several other research reports. Roth Mkm reissued a buy rating and issued a $7.50 price objective on shares of Soho House & Co Inc. in a report on Monday, August 12th. Citigroup lowered their price target on shares of Soho House & Co Inc. from $10.00 to $8.00 and set a buy rating on the stock in a research report on Monday, June 3rd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $7.80.

Soho House & Co Inc. Stock Performance

Shares of NYSE:SHCO opened at $5.58 on Tuesday. The company has a market capitalization of $1.09 billion, a P/E ratio of -7.34 and a beta of 0.74. The company’s 50-day moving average is $5.57 and its 200 day moving average is $5.53. Soho House & Co Inc. has a fifty-two week low of $4.35 and a fifty-two week high of $8.48.

Soho House & Co Inc. (NYSE:SHCO) last released its earnings results on Friday, August 9th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.06). The firm had revenue of $305.15 million for the quarter, compared to analysts’ expectations of $302.73 million. During the same period in the prior year, the company earned ($0.01) earnings per share. As a group, research analysts predict that Soho House & Co Inc. will post -0.34 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Thomas Glassbrooke Allen sold 21,461 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $5.74, for a total value of $123,186.14. Following the sale, the chief financial officer now owns 119,532 shares in the company, valued at $686,113.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Andrew Carnie sold 45,561 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $5.61, for a total value of $255,597.21. Following the transaction, the chief executive officer now owns 1,013,413 shares of the company’s stock, valued at approximately $5,685,246.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Thomas Glassbrooke Allen sold 21,461 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $5.74, for a total transaction of $123,186.14. Following the sale, the chief financial officer now owns 119,532 shares in the company, valued at approximately $686,113.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 177,344 shares of company stock valued at $1,002,900. Company insiders own 75.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mesirow Financial Investment Management Inc. purchased a new position in shares of Soho House & Co Inc. during the first quarter worth approximately $411,000. Sapient Capital LLC bought a new position in shares of Soho House & Co Inc. during the 4th quarter valued at $387,000. Thematics Asset Management raised its position in Soho House & Co Inc. by 4.3% in the 4th quarter. Thematics Asset Management now owns 407,731 shares of the company’s stock worth $2,903,000 after purchasing an additional 16,814 shares during the period. Walleye Trading LLC purchased a new position in Soho House & Co Inc. in the 1st quarter worth $79,000. Finally, Renaissance Technologies LLC boosted its position in Soho House & Co Inc. by 9.0% during the second quarter. Renaissance Technologies LLC now owns 114,702 shares of the company’s stock valued at $609,000 after buying an additional 9,502 shares during the period. 62.35% of the stock is currently owned by hedge funds and other institutional investors.

About Soho House & Co Inc.

Soho House & Co Inc operates a global membership platform of physical and digital spaces that connects a group of members. The company helps the members to use the platform to work, socialize, connect, create, and flourish all over the world. The company was formerly known as Membership Collective Group Inc and changed its name to Soho House & Co Inc in March 2023.